The grant anticipation note must be structured to amortize and to pay principal of and interest on the loan in accordance with anticipated receipts of the grant or grants. A grant anticipation note may also be payable from other revenues or amounts available for pledge under IC 21-34-6-2.[Pre-2007 Higher Education Recodification Citation: 20-12-6-8.5(b).]As added by P.L.2-2007, SEC.275. Amended by P.L.79-2010, SEC.6.
Indiana Legal Code